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Symmetry Launches Staggs Clamp - Analyst Blog

Symmetry Surgical Inc., the wholly-owned subsidiary of
orthopedic implants and instruments maker
Symmetry Medical
(
SMA
), launched the Staggs Uterine Compression Clamp on June 11. With
the new addition to its product line, Symmetry attempts to
strengthen its presence in the surgical instruments market.

Symmetry's new product is intended to mechanically compress the
middle layer of the uterine wall called myometrium during postnatal
uterine atony, in order to reduce severe hemorrhage and blood loss.
Uterine atony is a condition wherein the myometrium muscle in a
woman's uterus loses its contraction ability following a cesarean
section.

The clamp has been invented by Dr. Stephen M. Staggs and he
believes that the advanced hands-free reusable device will enhance
the safety of all cesarean deliveries and lower postnatal deaths.
As per statistics, 32.9% cesarean childbirth was reported in the
U.S. in 2009. Hence, Symmetry Surgical has a potential target
market to penetrate and sell its Staggs Uterine Compression
Clamp.

Symmetry, in December 2011, completed its acquisition of the
surgical instruments business of Codman & Shurtleff Inc.
("Codman"), a
Johnson & Johnson
(
JNJ
) enterprise. Following the closure of the transaction, the
integrated direct general surgical instruments operation, Specialty
Surgical Instrumentation ("SSi"), was renamed "Symmetry
Surgical".

Revenues, in the most recent quarter, from the smaller Symmetry
Surgical unit soared almost threefold to $26.7 million, buoyed by
the Olsen Medical and Codman & Shurtleff, Inc. acquisitions,
which contributed roughly $16.1 million to the division's
sales.

Symmetry is the largest original equipment manufacturer ("OEM")
provider of implants and related surgical instruments and cases to
orthopedic devices manufacturers. Its major customers include
Johnson & Johnson's DePuy,
Stryker
(
SYK
) and
Zimmer Holdings
(
ZMH
).

However, Symmetry still faces price and procedure volume
pressure on the orthopedic front. Also, the company's high spending
may continue to weigh on its bottom line. Currently, we have a
Neutral recommendation on the stock. Symmetry currently retains a
short-term Zacks #2 Rank (Buy).

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